Older Americans now on the verge of retirement are more likely to have substantial debt than in the past. "Median debt for those age 56-61 has more than quadrupled, from about $6,200 in 1992 to $28,300 in 2008 (in 2012 dollars)."

Housing purchased with small down payments and subject to large mortgages are key reasons for higher debt for Boomer retirees.

Income, level of education, marriage status, race, number of children, health, were also factors identified as affecting risk of financial insecurity after retirement.

One sentence that particularly stood out: "Baby Boomers are more likely to have engaged in expensive borrowing practices."